Description of this paper

Chp 4 -26;Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the;automobile industry. The following data have been compiled for the month of June. Conversion activity;occurs uniformly throughout the production process.;Work in process, June 1?50,000 units;Direct material: 100% complete cost of......................................................................................................... $120,000;Conversion: 40% complete, cost of............................................................................................................... 34,400;Balance in work in process, June 1........................................................................................................... $154,400;Units started during June.................................................................................................................................. 200,000;Units completed during June and transferred out to finished-goods inventory...................................................... 190,000;Work in process, June 30;Direct material: 100% complete;Conversion: 60% complete;Costs incurred during June;Direct material............................................................................................................................................. $492,500;Conversion costs;Direct labor............................................................................................................................................. $ 87,450;Applied manufacturing overhead............................................................................................................... 262,350;Total conversion costs.............................................................................................................................. $349,800;Required: Prepare schedules to accomplish each of the following process-costing steps for the month;of June. Use the weighted-average method of process costing.;1. Analysis of physical flow of units.;2. Calculation of equivalent units.;3. Computation of unit costs.;4. Analysis of total costs.;Chp 4 - 27;The following data pertain to the Vesuvius Tile Company for July.;Work in process, July 1 (in units)....................................................................................................................... 20,000;Units started during July...................................................................................................................................?;Total units to account for.................................................................................................................................. 65,000;Units completed and transferred out during July................................................................................................?;Work in process, July 31 (in units)..................................................................................................................... 15,000;Total equivalent units: direct material................................................................................................................. 65,000;Total equivalent units: conversion......................................................................................................................?;Work in process, July 1: direct material............................................................................................................. $164,400;Work in process, July 1: conversion...................................................................................................................?;Costs incurred during July: direct material.........................................................................................................?;Costs incurred during July: conversion.............................................................................................................. 659,400;Work in process, July 1: total cost..................................................................................................................... 244,200;Total costs incurred during July......................................................................................................................... 1,031,250;Total costs to account for.................................................................................................................................. 1,275,450;Cost per equivalent unit: direct material............................................................................................................. 8.25;Cost per equivalent unit: conversion..................................................................................................................?;Total cost per equivalent unit............................................................................................................................ 21.45;Cost of goods completed and transfered out during July......................................................................................?;Cost remaining in ending work-in-process inventory: direct material...................................................................?;Cost remaining in ending work-in-process inventory: conversion......................................................................... 79,200;Total cost of July 31 work in process................................................................................................................. 202,950;Additional Information;a. Direct material is added at the beginning of the production process, and conversion activity occurs;uniformly throughout the process.;b. The company uses weighted-average process costing.;c. The July 1 work in process was 30 percent complete as to conversion.;d. The July 31 work in process was 40 percent complete as to conversion.;Required: Compute the missing amounts, and prepare the firm?s July production report.

Paper#81504 | Written in 18-Jul-2015

Price : $22

STUDENTS MERIT

CLIENTS’ SUPPORT

MAKE MONEY

CONNECT WITH US

Disclaimer : Studentsmerits.com provides solutions that are custom written and that can only be used for research and reference purposes only. Using this service does not contravene your academic honesty or insititution\'s policies. The following are the ways you are supposed to use our services: (i) As a reference for indepth understanding of the subject. (ii) As a source of ideas / reasoning for your own research (if properly referenced). (iii) For editing and paraphrasing (check your institution\\\'s definition of plagiarism and recommended paraphrase). (iv) Direct citing (if referenced properly).